Technical Analysis/USD/JPY

USD/JPY: Looks like early Europe fancies a test of range highs

USD/JPY is fast approaching recent highs near 82.80 but I find it hard to believe that there are any really large stops above there? If the market is already extremely short Yen, how will they add to these positions?

Regardless of my ramblings, technically speaking a break above 82.80 targets 84.15.

  1. From my market source, we have large stop above 83.00. What did you hear Sean ? It could be a nice opportunity for the interbanks dealers to target it ??

  2. Thx Papillon, I’m at my daughters presentation night at school so being a bit naughty on iPad 🙂 looks like I sold eurjpy way too early but at least I covered my AUDUSD shorts. Looks like the barrier at 10550 has been shot?

Leave a Reply

Your email address will not be published. Required fields are marked *